Skip to main content Skip to footer

NYC Outerboroughs Q3 2022 Industrial Market Snapshot

Download Report
NYC Outer Boroughs SiteCore Header

Occupancy Gains Remains Positive

 

The New York City’s Outer Boroughs industrial market continued improving through the third quarter of 2022, as absorption remained positive, helping reduce the availability rate once again. The availability rate decreased 40 basis points from the previous quarter to 6.1%, as the market continued to absorb space for the fourth consecutive quarter, registering 5.0 million square feet (MSF) during this time.

 

Net absorption totaled positive 684,304 SF in the Outer Boroughs and was driven by the Bronx submarket which posted 325,455 SF of positive net absorption. On going occupancy gains in the Bronx have helped reduce the availability rate 140 basis points from the previous quarter, to 7.8%.

 

Staten Island continues to have the lowest available inventory in the Outer Boroughs market. At 1.2%, the availability rate is down 70 basis points from the previous quarter, as the submarket absorbed an additional 52,500 SF during the third quarter.

 


NYC Outer Boroughs SiteCore Thumbnail

NYC Outerboroughs Q3 2022 Industrial Market Snapshot

Download Report
Related Experts

Richard Warshauer

Senior Managing Director

New York

From advising SUNY Empire State College  in downstate NY for more than 28 years to leasing up a challenged Lower Manhattan office property, Mr. Warshauer assists a variety of space occupiers and property owners overcome seemingly impossible hurdles to achieve their real estate goals.

Also, long track record of office and industrial leasing and sales in NYC's Outer Boroughs: Brooklyn, Bronx, Queens and Staten Island.

View expert

Robert Lella

Managing Director

Stamford

As Managing Director at Colliers International, Robert Lella represents  owners and national and regional occupiers in the acquisition and disposition of Industrial and Office requirements. Areas of expertise include sales and leasing of Warehouse and Distribution Facilities and Professional Office with a distinct focus in the outer boroughs of New York, Hudson Valley and Connecticut. Robert specializes in structuring and negotiating of sale and lease transactions, site selection, repositioning projects as well as supply chain logistics.

Prior to his career in Commercial Real Estate, Robert worked as Managing Director in Investment Banking at Bear Stearns, Merrill Lynch and Credit Suisse headquartered in New York focusing on debt underwriting and syndicate. Robert's financial background and experience has allowed for the execution of complex real estate transactions to better serve the specific goals and objectives of each individual client.

View expert

Felix Soto

Research Manager

Woodbridge

Felix joined Colliers International in 2014 as a Research Analyst in the Parsippany office.  Felix assists in gathering and providing market data, as well as assisting brokers in completing various research requests.   

Prior to joining Colliers, Felix worked as a Habilitation Counselor for Rutgers Biomedical and Health Science, where he facilitated and developed multidisciplinary treatment plans with case management clients.  While at the University, Felix provided crisis outreach to assist in recognizing and intervening in potential crisis situations.  Felix moved on to become a Site Manager at Easter Seals of New Jersey, where his primary focus was ensuring services were in compliance with all licensing, policies, and providing utilization and statistical information to achieve financial sustainability. 

View expert